Merger of Majan Capital Fund with Fincorp Al Amal Fund completed

The merger of Majan Capital Fund with Fincorp Al Amal Fund has been completed as of Monday, Oman and Emirates Investment Holding Co (OEIHC) announced on Tuesday.

Majan Capital Fund is a subsidiary of OEIHC with 92.44 per cent equity stake.

‘The merger of Majan Fund with Fincorp Al Amal Fund has been completed as of May 6 and the swap ratio was based on the net asset value of the respective funds as of April 24’, OEIHC said in a disclosure on Tuesday.

Consequent to the merger, OEIHC said its stake in Fincorp Al Amal Fund has become 39.11 per cent with 2,974,761 units.

The effective date of merger is April 28 and there is no financial impact on account of this merger to OEIHC, the company said.